SB55-ASA1, s. 1534 17Section 1534. 231.03 (20) of the statutes is created to read:
SB55-ASA1,1011,218 231.03 (20) Purchase the state's right to receive any of the payments under the
19tobacco settlement agreement, or make a loan to be secured by the state's right to
20receive any of the payments under the tobacco settlement agreement, upon such
21terms and at such prices as the authority considers reasonable and as can be agreed
22upon between the authority and the other party to the transaction. The authority
23may issue certificates or other evidences of ownership interest in tobacco settlement
24revenues upon such terms and conditions as specified by the authority in the

1resolution under which the certificates or other evidences are issued or in a related
2trust agreement or trust indenture.
SB55-ASA1, s. 1535 3Section 1535. 231.16 (1) of the statutes is amended to read:
SB55-ASA1,1011,164 231.16 (1) The authority may issue bonds to refund any outstanding bond of
5the authority or indebtedness that a participating health institution, participating
6educational institution, or participating child care provider may have incurred for
7the construction or acquisition of a project prior to or after April 30, 1980, including
8the payment of any redemption premium on the outstanding bond or indebtedness
9and any interest accrued or to accrue to the earliest or any subsequent date of
10redemption, purchase, or maturity, or to pay all or any part of the cost of constructing
11and acquiring additions, improvements, extensions, or enlargements of a project or
12any portion of a project. No Except for bonds to refund bonds issued under s. 231.03
13(6) (g), no
bonds may be issued under this section unless the authority has first
14entered into a new or amended agreement with a participating health institution,
15participating educational institution, or participating child care provider to provide
16sufficient revenues to pay the costs and other items described in s. 231.13.
SB55-ASA1, s. 1536 17Section 1536. 231.16 (3) of the statutes is amended to read:
SB55-ASA1,1011,2418 231.16 (3) All bonds issued under this section shall be subject to this chapter
19in the same manner and to the same extent as other bonds issued pursuant to this
20chapter, except that the limitations with respect to dates under s. 231.03 (6) (e) and
21(f) and (14) do not apply to bonds issued under this section, and the requirement
22under s. 231.08 (3) that the bonds mature in 30 years or less from their date of issue
23does not apply to bonds issued under this section to refund bonds issued under s.
24231.03 (6) (g)
.
SB55-ASA1, s. 1537 25Section 1537. 231.215 of the statutes is created to read:
SB55-ASA1,1012,6
1231.215 Incorporator for purpose related to purchase or sale of right
2to payments.
The authority, or its executive director, may organize one or more
3nonstock corporations under ch. 181 or limited liability companies under ch. 183 for
4any purpose related to purchasing or selling the state's right to receive any of the
5payments under the tobacco settlement agreement and may take any action
6necessary to facilitate and complete the purchase or sale.
SB55-ASA1, s. 1538 7Section 1538. 233.27 of the statutes is amended to read:
SB55-ASA1,1012,15 8233.27 Limit on the amount of outstanding bonds. The authority may not
9issue bonds or incur indebtedness described under s. 233.03 (12) if, after the bonds
10are issued or the indebtedness is incurred, the aggregate principal amount of the
11authority's outstanding bonds, together with all indebtedness described under s.
12233.03 (12) would exceed $106,500,000 $175,000,000. Bonds issued to fund or refund
13outstanding bonds, or indebtedness incurred to pay off or purchase outstanding
14indebtedness, is not included in calculating compliance with the $106,500,000
15$175,000,000 limit.
SB55-ASA1, s. 1539 16Section 1539. 234.65 (3) (f) of the statutes, as affected by 1999 Wisconsin Act
179
, is amended to read:
SB55-ASA1,1012,2318 234.65 (3) (f) The name of the person receiving the loan does not appear on the
19statewide support lien docket under s. 49.854 (2) (b). The condition under this
20paragraph is met for a person whose name does appear if
or, if the person's name
21appears on that docket,
the person provides to the authority a payment agreement
22that has been approved by the county child support agency under s. 59.53 (5) and that
23is consistent with rules promulgated under s. 49.858 (2) (a).
SB55-ASA1, s. 1540 24Section 1540. 234.67 (1) (f) of the statutes is amended to read:
SB55-ASA1,1013,2
1234.67 (1) (f) "Percentage of guarantee" means the percentage established by
2the authority under sub. (3) (a).
SB55-ASA1, s. 1541 3Section 1541. 234.67 (3) (a) of the statutes is renumbered 234.67 (3) and
4amended to read:
SB55-ASA1,1013,115 234.67 (3) Guarantee of collection. Subject to par. (b), the The authority
6shall guarantee collection of a percentage, not exceeding 90%, of the principal of any
7loan eligible for a guarantee under sub. (2). The authority shall establish the
8percentage of the unpaid principal of an eligible loan that will be guaranteed, using
9the procedures described in the guarantee agreement under s. 234.93 (2) (a). The
10authority may establish a single percentage for all guaranteed loans or establish
11different percentages for eligible loans on an individual basis.
SB55-ASA1, s. 1542 12Section 1542. 234.67 (3) (b) of the statutes is repealed.
SB55-ASA1, s. 1543 13Section 1543. 234.83 (1) of the statutes is renumbered 234.83 (1m).
SB55-ASA1, s. 1544 14Section 1544. 234.83 (1c) of the statutes is created to read:
SB55-ASA1,1013,1515 234.83 (1c) Definitions. In this section:
SB55-ASA1,1013,1616 (a) "Rural community" means any of the following:
SB55-ASA1,1013,1817 1. A city, town, or village in this state that is located in a county with a
18population density of less than 150 persons per square mile.
SB55-ASA1,1013,1919 2. A city, town, or village in this state with a population of 12,000 or less.
SB55-ASA1,1013,2120 (b) "Small business" means a business, as defined in s. 560.60 (2), that employs
2150 or fewer employees on a full-time basis.
SB55-ASA1, s. 1545 22Section 1545. 234.83 (2) (a) (intro.) of the statutes is amended to read:
SB55-ASA1,1013,2423 234.83 (2) (a) (intro.) A business, as defined in s. 560.60 (2), to which all of the
24following apply:
SB55-ASA1, s. 1546 25Section 1546. 234.83 (2) (a) 2. of the statutes is amended to read:
SB55-ASA1,1014,2
1234.83 (2) (a) 2. The business employs 50 or fewer employees on a full-time
2basis
is a small business.
SB55-ASA1, s. 1547 3Section 1547. 234.83 (2) (a) 3. of the statutes, as affected by 1999 Wisconsin
4Act 9
, is amended to read:
SB55-ASA1,1014,115 234.83 (2) (a) 3. The name of the owner of the business does not appear on the
6statewide support lien docket under s. 49.854 (2) (b). The condition under this
7subdivision is met for an owner whose name does appear if
or, if the name of the
8owner of the business appears on that docket,
the owner of the business provides to
9the authority a payment agreement that has been approved by the county child
10support agency under s. 59.53 (5) and that is consistent with rules promulgated
11under s. 49.858 (2) (a).
SB55-ASA1, s. 1548 12Section 1548. 234.83 (3) (a) 2. of the statutes is amended to read:
SB55-ASA1,1014,1513 234.83 (3) (a) 2. The start-up, expansion or acquisition of a day care business,
14including the purchase or improvement of land, buildings, machinery, equipment, or
15inventory.
SB55-ASA1, s. 1549 16Section 1549. 234.83 (3) (a) 3. of the statutes is created to read:
SB55-ASA1,1014,1917 234.83 (3) (a) 3. The start-up of a small business in a vacant storefront in the
18downtown area of a rural community, including the purchase or improvement of
19land, buildings, machinery, equipment, or inventory.
SB55-ASA1, s. 1550 20Section 1550. 234.83 (4) (a) of the statutes is renumbered 234.83 (4) and
21amended to read:
SB55-ASA1,1015,622 234.83 (4) Guarantee of repayment. Subject to par. (b), the The authority may
23guarantee repayment of a portion of the principal of any loan eligible for a guarantee
24under sub. (1) (1m). That portion may not exceed 80% of the principal of the loan or
25$200,000, whichever is less. The authority shall establish the portion of the principal

1of an eligible loan that will be guaranteed, using the procedures described in the
2agreement under s. 234.93 (2) (a). The authority may establish a single portion for
3all guaranteed loans that do not exceed $250,000 and a single portion for all
4guaranteed loans that exceed $250,000 or establish on an individual basis different
5portions for eligible loans that do not exceed $250,000 and different portions for
6eligible loans that exceed $250,000.
SB55-ASA1, s. 1551 7Section 1551. 234.83 (4) (b) of the statutes is repealed.
SB55-ASA1, s. 1552 8Section 1552. 234.90 (3) (d) of the statutes, as affected by 1999 Wisconsin Act
99
, is amended to read:
SB55-ASA1,1015,1510 234.90 (3) (d) The farmer's name does not appear on the statewide support lien
11docket under s. 49.854 (2) (b). The condition under this paragraph is met for a farmer
12whose name does appear if
or, if the farmer's name appears on that docket, the farmer
13provides to the authority a payment agreement that has been approved by the county
14child support agency under s. 59.53 (5) and that is consistent with rules promulgated
15under s. 49.858 (2) (a).
SB55-ASA1, s. 1553 16Section 1553. 234.90 (3g) (c) of the statutes, as affected by 1999 Wisconsin Act
179
, is amended to read:
SB55-ASA1,1015,2318 234.90 (3g) (c) The farmer's name does not appear on the statewide support lien
19docket under s. 49.854 (2) (b). The condition under this paragraph is met for a farmer
20whose name does appear if
or, if the farmer's name appears on that docket, the farmer
21provides to the authority a payment agreement that has been approved by the county
22child support agency under s. 59.53 (5) and that is consistent with rules promulgated
23under s. 49.858 (2) (a).
SB55-ASA1, s. 1554 24Section 1554. 234.90 (4) (a) of the statutes is renumbered 234.90 (4) and
25amended to read:
SB55-ASA1,1016,4
1234.90 (4) Guarantee. Except as provided in par. (b), the The authority shall
2guarantee repayment of 90% of the principal of any agricultural production loan
3eligible for guarantee under sub. (2) made to a farmer eligible for a guaranteed loan
4under sub. (3) or (3g).
SB55-ASA1, s. 1555 5Section 1555. 234.90 (4) (b) of the statutes is repealed.
SB55-ASA1, s. 1556 6Section 1556. 234.907 (1) (f) of the statutes is amended to read:
SB55-ASA1,1016,87 234.907 (1) (f) "Percentage of guarantee" means the percentage established by
8the authority under sub. (3) (a).
SB55-ASA1, s. 1557 9Section 1557. 234.907 (3) (a) of the statutes is renumbered 234.907 (3) and
10amended to read:
SB55-ASA1,1016,1711 234.907 (3) Guarantee of collection. Subject to par. (b), the The authority
12shall guarantee collection of a percentage, not exceeding 90%, of the principal of any
13loan eligible for a guarantee under sub. (2). The authority shall establish the
14percentage of the unpaid principal of an eligible loan that will be guaranteed, using
15the procedures described in the guarantee agreement under s. 234.93 (2) (a). The
16authority may establish a single percentage for all guaranteed loans or establish
17different percentages for eligible loans on an individual basis.
SB55-ASA1, s. 1558 18Section 1558. 234.907 (3) (b) of the statutes is repealed.
SB55-ASA1, s. 1559 19Section 1559. 234.91 (5) (a) of the statutes is amended to read:
SB55-ASA1,1016,2420 234.91 (5) (a) Subject to par. (c), the The authority shall guarantee collection
21of a percentage of the principal of a loan eligible for a guarantee under sub. (2). The
22principal amount of an eligible loan that the authority may guarantee may not
23exceed the borrower's net worth or 25% of the total loan amount, whichever is less,
24calculated at the time the loan is made.
SB55-ASA1, s. 1560 25Section 1560. 234.91 (5) (c) of the statutes is repealed.
SB55-ASA1, s. 1561
1Section 1561. 234.93 (3) (title) of the statutes is amended to read:
SB55-ASA1,1017,32 234.93 (3) (title) Increases or decreases in loan Loan guarantees ; increases
3or decreases
.
SB55-ASA1, s. 1562 4Section 1562. 234.93 (3) of the statutes is renumbered 234.93 (3) (b) and
5amended to read:
SB55-ASA1,1017,166 234.93 (3) (b) The authority may request the joint committee on finance to take
7action under s. 13.10 to permit the authority to increase or decrease the total
8principal amount or total outstanding guaranteed principal amount of loans that it
9may guarantee under a program the aggregate of the programs guaranteed by the
10Wisconsin development reserve fund. Included with its request, the authority shall
11provide a projection, for the next June 30, that compares the amounts required on
12that date to pay outstanding claims and to fund guarantees under all the aggregate
13of the programs guaranteed by funds from the Wisconsin development reserve fund,
14and the balance remaining in the Wisconsin development reserve fund on that date
15after deducting such amounts, if the increase or decrease is approved, with such
16amounts and the balance remaining, if the increase or decrease is not approved.
SB55-ASA1, s. 1563 17Section 1563. 234.93 (3) (a) of the statutes is created to read:
SB55-ASA1,1017,2218 234.93 (3) (a) Except as provided in par. (b), the total principal amount or total
19outstanding guaranteed principal amount of all loans that the authority may
20guarantee under the aggregate of the programs guaranteed by funds from the
21Wisconsin development reserve fund, excluding the program under s. 234.935, 1997
22stats., may not exceed $49,500,000.
SB55-ASA1, s. 3125c 23Section 3125c. 234.93 (4) (c) of the statutes is created to read:
SB55-ASA1,1018,1424 234.93 (4) (c) 1. The statement under par. (b) shall include recommendations
25as to the total principal amount or total outstanding guaranteed principal amount

1of all loans that the authority may guarantee under each of the programs guaranteed
2by the Wisconsin development reserve fund, subject to sub. (3). If the cochairpersons
3of the joint committee on finance do not notify the executive director within 14
4working days after August 31 that the committee has scheduled a meeting for the
5purpose of reviewing the recommended maximum amounts, the recommended
6maximum amounts shall be the total principal amounts or total outstanding
7guaranteed principal amounts of all loans that the authority may guarantee under
8each of the programs guaranteed by the Wisconsin development reserve fund. If,
9within 14 working days after August 31, the cochairpersons of the committee notify
10the executive director that the committee has scheduled a meeting for the purpose
11of reviewing the recommended maximum amounts, the maximum amounts that the
12authority may guarantee under each of the programs guaranteed by the Wisconsin
13development reserve fund shall be the maximum amounts approved by the
14committee.
SB55-ASA1,1019,615 2. If the total principal amount or total outstanding guaranteed principal
16amount of all loans that the authority desires or intends to guarantee under a
17program guaranteed by the Wisconsin development reserve fund will exceed the
18maximum amount that was last approved for the program under subd. 1., the
19executive director of the authority shall provide to the secretary of administration
20and to the joint committee on finance notice of the proposed new maximum
21guarantee amounts for each of the programs guaranteed by the Wisconsin
22development reserve fund, subject to sub. (3). If the cochairpersons of the joint
23committee on finance do not notify the executive director within 14 working days
24after the date of the notice under this subdivision that the committee has scheduled
25a meeting for the purpose of reviewing the proposed new maximum amounts, the

1proposed new maximum amounts shall apply. If, within 14 working days after the
2date of the notice under this subdivision, the cochairpersons of the committee notify
3the executive director that the committee has scheduled a meeting for the purpose
4of reviewing the proposed new maximum amounts, the new maximum amounts that
5the authority may guarantee shall be the maximum amounts approved by the
6committee.
SB55-ASA1, s. 1564 7Section 1564. 234.93 (4m) of the statutes is amended to read:
SB55-ASA1,1019,118 234.93 (4m) Limitation on loan guarantees. The authority shall regularly
9monitor the cash balance in the Wisconsin development reserve fund. The authority
10shall ensure that the cash balance in the fund is sufficient for the purposes specified
11in sub. (4) (a) 1. and, 2., and 3.
SB55-ASA1, s. 1565 12Section 1565. Chapter 237 of the statutes is created to read:
SB55-ASA1,1019,1513 Chapter 237
14 Fox River Navigational
15 System Authority
SB55-ASA1,1019,16 16237.01 Definitions. In this chapter:
SB55-ASA1,1019,17 17(1) "Authority" means the Fox River Navigational System Authority.
SB55-ASA1,1019,18 18(2) "Board of directors" means the board of directors of the authority.
SB55-ASA1,1019,20 19(3) "Fiscal year" means the period beginning on July 1 and ending on the
20following June 30.
SB55-ASA1,1019,21 21(4) "Lock" includes any spillway associated with the lock.
SB55-ASA1,1019,25 22237.02 Creation and organization of authority. (1) There is created a
23public body corporate and politic to be known as the "Fox River Navigational System
24Authority." The board of directors of the authority shall consist of the following
25members:
SB55-ASA1,1020,2
1(a) Six members nominated by the governor, and with the advice and consent
2of the senate appointed, for 3-year terms.
SB55-ASA1,1020,33 (b) The secretary of natural resources, or his or her designee.
SB55-ASA1,1020,44 (c) The secretary of transportation, or his or her designee.
SB55-ASA1,1020,55 (d) The director of the state historical society, or his or her designee.
SB55-ASA1,1020,8 6(1m) (a) Two of the 6 members appointed under sub. (1) (a) shall be residents
7of Brown County, 2 shall be residents of Outagamie County, and 2 shall be residents
8of Winnebago County.
SB55-ASA1,1020,119 (b) At least one of the 2 members appointed from each of the counties specified
10in par. (a) shall be a resident of a city, village, or town in which is located a lock that
11is part of the navigational system.
SB55-ASA1,1020,14 12(2) A vacancy on the board of directors shall be filled in the same manner as
13the original appointment to the board of directors for the remainder of the unexpired
14term, if any.
SB55-ASA1,1020,17 15(3) A member of the board of directors may not be compensated for his or her
16services but shall be reimbursed for actual and necessary expenses, including travel
17expenses, incurred in the performance of his or her duties.
SB55-ASA1,1020,21 18(4) No cause of action of any nature may arise against and no civil liability may
19be imposed upon a member of the board of directors for any act or omission in the
20performance of his or her powers and duties under this chapter, unless the person
21asserting liability proves that the act or omission constitutes willful misconduct.
SB55-ASA1,1021,2 22(5) The members of the board of directors shall annually elect a chairperson
23and may elect other officers as they consider appropriate. Five voting members of
24the board of directors constitute a quorum for the purpose of conducting the business
25and exercising the powers of the authority, notwithstanding the existence of any

1vacancy. The board of directors may take action upon a vote of a majority of the
2members present, unless the bylaws of the authority require a larger number.
SB55-ASA1,1021,15 3(6) The board of directors shall appoint a chief executive officer who shall not
4be a member of the board of directors and who shall serve at the pleasure of the board
5of directors. The authority may delegate by resolution to one or more of its members
6or its executive director any powers and duties that it considers proper. The chief
7executive officer shall receive such compensation as may be determined by the board
8of directors. The chief executive officer or other person designated by resolution of
9the board of directors shall keep a record of the proceedings of the authority and shall
10be custodian of all books, documents, and papers filed with the authority, the minute
11book or journal of the authority, and its official seal. The chief executive officer or
12other person may cause copies to be made of all minutes and other records and
13documents of the authority and may give certificates under the official seal of the
14authority to the effect that such copies are true copies, and all persons dealing with
15the authority may rely upon such certificates.
SB55-ASA1,1021,17 16237.03 Duties of authority. (1) General duties. In addition to all other
17duties imposed under this chapter, the authority shall do all of the following:
SB55-ASA1,1021,1918 (a) Adopt bylaws and policies and procedures for the regulation of its affairs
19and the conduct of its business.
SB55-ASA1,1021,2020 (b) Contract for any legal services required for the authority.
SB55-ASA1,1021,2221 (c) Establish the authority's annual budget and monitor the fiscal management
22of the authority.
SB55-ASA1,1021,2423 (d) Procure liability insurance covering its officers and employees and procure
24insurance against any loss in connection with its property and other assets.
SB55-ASA1,1022,2
1(e) Make every reasonable effort to contract with one or more corporations to
2provide the services specified under s. 237.09 (2).
SB55-ASA1,1022,5 3(2) Duties upon leasing. Upon entering into the lease under s. 237.06, the
4authority shall rehabilitate, repair, replace, operate, and maintain the navigational
5system.
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